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Tuesday, July 29, 2008 9:31:15 AM
doggone... Here you go just for starters!
Here is how two CEO's of SGLS and GRUS are abusing and using the S8 share exchange system to rip off the investment community.. This has been going on since 2003. Each year these company lose combined millions of dollars in share holders equity and company loses and at the same time they pay themselves millions in bonus and salaries.
Then to add to their windfall profits they exchange S8 shares for consulting services they never preform..
Here is some examples from their SEC filings.. This should be outlawed and they should be held accountable for there crimes!
====================================================
2004 and 5 filings for SGLS
http://www.pinksheets.com/quote/print_filings.jsp?url=%2Fredirect.asp%3Ffilename%3D0001103132%252D05....
During the year ended December 31, 2004, the Company issued 1,700,000 shares of its common stock to consultants in exchange for business consulting services. The shares issued were valued based on the market value of the Company’s common stock on the transaction dates, ranging from $.20 to $2.60 per share. Stock-based compensation expense of $608,600 was recognized in the accompanying financial statements for the year ended December 31, 2004.
On January 18, 2005, the Company’s sole director and shareholders approved a 40:1 reverse split of its $.0001 par value common stock. The split was declared effective as of February 4, 2005. The stock split reduced the number of common shares outstanding from 449,815,190 to 11,245,380. The effect of the reverse stock split has been retroactively applied to January 1, 2003.
Ed Miers assists us with corporate strategy and evaluation. Additionally, Mr. Miers provides consulting services for Signature Auto's operations.
Ed Miers, Special Advisor
http://www.pinksheets.com/quote/print_filings.jsp?url=%2Fredirect.asp%3Ffilename%3D0001103132%252D06....
During the three month period ended December 31 2005, we have issued 2,500,000 shares of our $0.001 par value common stock to Edward Miers as compensation for services. The shares issued were unrestricted pursuant to an S-8 Registration filed with the SEC on April 27, 2005 and valued at $19,375.
================================================================
2006
http://www.pinksheets.com/quote/print_filings.jsp?url=%2Fredirect.asp%3Ffilename%3D0001103132%252D06....
Consultants/Employees
Signature Leisure currently utilizes five consultant/employees, in addition to our sole officer and director Mr. Carnes, for operations in our business segments. Additional services required for our operations are provided by subcontractors engaged as required.
During the nine months ended September 30, 2006, the Company issued 14,906,756 shares of its common stock to consultants in exchange for business consulting services. Stock-based compensation expense of $1,138,750 was recognized in the accompanying financial statements for the nine months ended September 30, 2006. The stock is valued at the closing market price when issued.
http://www.pinksheets.com/quote/print_filings.jsp?url=%2Fredirect.asp%3Ffilename%3D0001103132%252D06....
750,000 shares of our $0.001 par value common stock to Edward Miers as compensation for services. The shares issued were unrestricted pursuant to an S-8 Registration filed with the SEC on January 27, 2006 and valued at $138,750.
Ed Miers, Special Advisor
On October 4, 2006, we sold 50,000,000 shares of our common stock at a price of $0.007 per share for a total of $350,000. This amount was paid in exchange for the satisfaction of $350,000 of
================================================================
2004 and 5 filings for GRUS
http://www.pinksheets.com/quote/print_filings.jsp?url=%2Fredirect.asp%3Ffilename%3D0001077048%252D06....
Consultants
We have utilized the services of in excess of 15 consultants, whom have received stock for compensation. Refer to the section entitled, “Recent Sales of Securities Registered Pursuant to Form S-8.”
On September 26, 2003, we entered into an oral consulting agreement with Stephen W. Carnes, wherein he agreed to assist us with general business consulting services such as assisting us and our management with evaluating prospective acquisition candidate’s business setup and operations, business management services and other business related services. We issued Mr. Carnes a number of shares of the Company’s free trading common stock, par value $0.001 per share, that equaled the sum of $50,000 per month. The agreement had an initial term of one year and we continued the contract on a monthly basis as needed. Through December 31, 2005 we have issued Mr. Carnes 104,000,000 shares of our common stock registered on Form S-8 valued at $140,000.
Section 6 of GREM USA's Stock Compensation Plan, originally filed on May 5, 2005 was amended, which changed the reserved number of shares allowed for issuance to not exceed 1,250,000,000 from the previously amended amount of 550,000,000.
During the year ended December 31, 2006, we issued shares of common stock to the following consultant/employee. These shares were issued in a Registration Statement on Form S-8 filed on November 18, 2005.
PERSON ISSUED TO DATE OF ISSUANCE NUMBER OF SHARES VALUE OF SHARES
------------------------------- ---------------------------- -------------------------- ---------------------------
Catherine Konkle February 14, 2006 6,000,000 $4,800
We also issued shares to the following consultants/employees from a Registration Statement on Form S-8 filed on February 3, 2006.
PERSON ISSUED TO DATE OF ISSUANCE NUMBER OF SHARES VALUE OF SHARES
-------------------------------- ---------------------------- -------------------------- --------------------------
Catherine Konkle February 14, 2006 15,000,000 $12,000
Dennis Nartker February 14, 2006 30,000,000 $24,000
Gregory Reszel February 14, 2006 10,000,000 $8,000
Matthew Lettau February 14, 2006 10,000,000 $8,000
Joshua Harris February 14, 2006 3,000,000 $2,400
Steve Carnes February 14, 2006 150,000,000 $120,000
James Taylor February 14, 2006 30,000,000 $24,000
Nathan Weides February 14, 2006 3,000,000 $2,400
Dennis Nartker February 27, 2006 20,000,000 $16,000
Catherine Konkle March 2, 2006 20,000,000 $16,000
Dennis Nartker March 2, 2006 20,000,000 $16,000
Gregory Reszel March 2, 2006 10,000,000 $8,000
Joshua Harris March 2, 2006 3,000,000 $2,400
Steve Carnes March 2, 2006 150,000,000 $120,000
Nathan Weides March 2, 2006 3,000,000 $2,400
David Peters March 7, 2006 3,000,000 $2,700
Catherine Konkle April 20, 2006 10,000,000 $6,000
Dennis Nartker April 20, 2006 10,000,000 $6,000
Gregory Reszel April 20, 2006 10,000,000 $6,000
Joshua Harris April 20, 2006 2,000,000 $1,200
Steve Carnes April 20, 2006 150,000,000 $90,000
Nathan Weides April 20, 2006 2,000,000 $1,200
David Peters April 20, 2006 2,000,000 $1,200
Here is how two CEO's of SGLS and GRUS are abusing and using the S8 share exchange system to rip off the investment community.. This has been going on since 2003. Each year these company lose combined millions of dollars in share holders equity and company loses and at the same time they pay themselves millions in bonus and salaries.
Then to add to their windfall profits they exchange S8 shares for consulting services they never preform..
Here is some examples from their SEC filings.. This should be outlawed and they should be held accountable for there crimes!
====================================================
2004 and 5 filings for SGLS
http://www.pinksheets.com/quote/print_filings.jsp?url=%2Fredirect.asp%3Ffilename%3D0001103132%252D05....
During the year ended December 31, 2004, the Company issued 1,700,000 shares of its common stock to consultants in exchange for business consulting services. The shares issued were valued based on the market value of the Company’s common stock on the transaction dates, ranging from $.20 to $2.60 per share. Stock-based compensation expense of $608,600 was recognized in the accompanying financial statements for the year ended December 31, 2004.
On January 18, 2005, the Company’s sole director and shareholders approved a 40:1 reverse split of its $.0001 par value common stock. The split was declared effective as of February 4, 2005. The stock split reduced the number of common shares outstanding from 449,815,190 to 11,245,380. The effect of the reverse stock split has been retroactively applied to January 1, 2003.
Ed Miers assists us with corporate strategy and evaluation. Additionally, Mr. Miers provides consulting services for Signature Auto's operations.
Ed Miers, Special Advisor
http://www.pinksheets.com/quote/print_filings.jsp?url=%2Fredirect.asp%3Ffilename%3D0001103132%252D06....
During the three month period ended December 31 2005, we have issued 2,500,000 shares of our $0.001 par value common stock to Edward Miers as compensation for services. The shares issued were unrestricted pursuant to an S-8 Registration filed with the SEC on April 27, 2005 and valued at $19,375.
================================================================
2006
http://www.pinksheets.com/quote/print_filings.jsp?url=%2Fredirect.asp%3Ffilename%3D0001103132%252D06....
Consultants/Employees
Signature Leisure currently utilizes five consultant/employees, in addition to our sole officer and director Mr. Carnes, for operations in our business segments. Additional services required for our operations are provided by subcontractors engaged as required.
During the nine months ended September 30, 2006, the Company issued 14,906,756 shares of its common stock to consultants in exchange for business consulting services. Stock-based compensation expense of $1,138,750 was recognized in the accompanying financial statements for the nine months ended September 30, 2006. The stock is valued at the closing market price when issued.
http://www.pinksheets.com/quote/print_filings.jsp?url=%2Fredirect.asp%3Ffilename%3D0001103132%252D06....
750,000 shares of our $0.001 par value common stock to Edward Miers as compensation for services. The shares issued were unrestricted pursuant to an S-8 Registration filed with the SEC on January 27, 2006 and valued at $138,750.
Ed Miers, Special Advisor
On October 4, 2006, we sold 50,000,000 shares of our common stock at a price of $0.007 per share for a total of $350,000. This amount was paid in exchange for the satisfaction of $350,000 of
================================================================
2004 and 5 filings for GRUS
http://www.pinksheets.com/quote/print_filings.jsp?url=%2Fredirect.asp%3Ffilename%3D0001077048%252D06....
Consultants
We have utilized the services of in excess of 15 consultants, whom have received stock for compensation. Refer to the section entitled, “Recent Sales of Securities Registered Pursuant to Form S-8.”
On September 26, 2003, we entered into an oral consulting agreement with Stephen W. Carnes, wherein he agreed to assist us with general business consulting services such as assisting us and our management with evaluating prospective acquisition candidate’s business setup and operations, business management services and other business related services. We issued Mr. Carnes a number of shares of the Company’s free trading common stock, par value $0.001 per share, that equaled the sum of $50,000 per month. The agreement had an initial term of one year and we continued the contract on a monthly basis as needed. Through December 31, 2005 we have issued Mr. Carnes 104,000,000 shares of our common stock registered on Form S-8 valued at $140,000.
Section 6 of GREM USA's Stock Compensation Plan, originally filed on May 5, 2005 was amended, which changed the reserved number of shares allowed for issuance to not exceed 1,250,000,000 from the previously amended amount of 550,000,000.
During the year ended December 31, 2006, we issued shares of common stock to the following consultant/employee. These shares were issued in a Registration Statement on Form S-8 filed on November 18, 2005.
PERSON ISSUED TO DATE OF ISSUANCE NUMBER OF SHARES VALUE OF SHARES
------------------------------- ---------------------------- -------------------------- ---------------------------
Catherine Konkle February 14, 2006 6,000,000 $4,800
We also issued shares to the following consultants/employees from a Registration Statement on Form S-8 filed on February 3, 2006.
PERSON ISSUED TO DATE OF ISSUANCE NUMBER OF SHARES VALUE OF SHARES
-------------------------------- ---------------------------- -------------------------- --------------------------
Catherine Konkle February 14, 2006 15,000,000 $12,000
Dennis Nartker February 14, 2006 30,000,000 $24,000
Gregory Reszel February 14, 2006 10,000,000 $8,000
Matthew Lettau February 14, 2006 10,000,000 $8,000
Joshua Harris February 14, 2006 3,000,000 $2,400
Steve Carnes February 14, 2006 150,000,000 $120,000
James Taylor February 14, 2006 30,000,000 $24,000
Nathan Weides February 14, 2006 3,000,000 $2,400
Dennis Nartker February 27, 2006 20,000,000 $16,000
Catherine Konkle March 2, 2006 20,000,000 $16,000
Dennis Nartker March 2, 2006 20,000,000 $16,000
Gregory Reszel March 2, 2006 10,000,000 $8,000
Joshua Harris March 2, 2006 3,000,000 $2,400
Steve Carnes March 2, 2006 150,000,000 $120,000
Nathan Weides March 2, 2006 3,000,000 $2,400
David Peters March 7, 2006 3,000,000 $2,700
Catherine Konkle April 20, 2006 10,000,000 $6,000
Dennis Nartker April 20, 2006 10,000,000 $6,000
Gregory Reszel April 20, 2006 10,000,000 $6,000
Joshua Harris April 20, 2006 2,000,000 $1,200
Steve Carnes April 20, 2006 150,000,000 $90,000
Nathan Weides April 20, 2006 2,000,000 $1,200
David Peters April 20, 2006 2,000,000 $1,200
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